SD Solutions

HDFC is moving in an uptrend with a minor corrective decline. The range is classified as a flag and a breakout of falling minor trendline confirms a possible upside. HDFC is moving in an uptrend with a minor corrective decline from Nov 20 highs. The decline is on lower, contracting volumes and suggests a correction within an ongoing trend. The range-bound action can also be classified as a flag as it is on coming off a sharp rally. A breakout of falling minor trendline confirms a possible upside. Buy around Rs 2300-2310. Keep a stop below Rs 2250 and hold for a target of Rs 2400 and above that to Rs 2450.

The state-owned defence company, Mazagon Dock Shipbuilders' Rs 443-crore IPO had seen the highest subscription in 2020 at 157.4 times The initial public offering of Burger King, one of the fastest growing quick service restaurant chains in India with 268 outlets, turned out to be the third issue in the calendar year 2020 to cross the subscription mark of 150 times. With a subscription of 156.6 times, it has received the second highest subscription in the current year after Mazagon Dock Shipbuilders. Burger King India targets to open 700 restaurants by December 2026. The Rs 810-crore IPO was subscribed 156.6 times overall during December 2-4 as it received bids for 1,166 crore equity shares against offer size of 7.44 crore equity shares (excluding anchor book portion). The strong interest in the issue was owing to attractive valuations, strong brand positioning, healthy financial prospects, expected robust store expansion plans of the quick service restaurant industry in I...